May 25, 2018 / 1:09 PM / 3 months ago

Bank of Baroda posts fourth-quarter loss of $458 million

(Reuters) - Bank of Baroda Ltd on Friday reported a net loss of 31.02 billion rupees ($457.62 million) for the fourth quarter as India's third-largest state-run lender booked higher provisions for bad loans. reut.rs/2KSplHV

A man walks past the Bank of Baroda headquarters in Mumbai, May 3, 2016. REUTERS/Danish Siddiqui/Files

That compared with a profit of 1.55 billion rupees in the year-ago period and an average estimate of 57.2 million rupees loss in a Thomson Reuters poll of 15 analysts.

Gross bad loans as a percentage of total loans stood at 12.26 percent at end-March, compared with 11.31 percent in the previous quarter and 10.46 percent a year ago.

($1 = 67.7850 Indian rupees)

The Bank of Baroda headquarters is pictured in Mumbai, April 27, 2016. REUTERS/Danish Siddiqui/Files

Reporting by Vishal Sridhar in Bengaluru; Editing by Subhranshu Sahu

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